Negative global cues subdue equity markets

Negative global cues subdue equity markets

Mumbai, July 22 (IANS) Negative global cues, combined with a logjam in parliament and disappointing quarterly results, subdued the Indian equity markets on Friday.

Consequently, the key indices traded in the negative territory, during the morning session, as heavy selling pressure was witnessed in banking, metal and information technology (IT) stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped by 11.70 points or 0.14 per cent to 8,498.40 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,721.72 points, traded at 27,685 points (at 9.30 a.m.) — down 25.52 points or 0.09 per cent from the previous close at 27,710.52 points.

The Sensex has so far touched a high of 27,764.19 points and a low of 27,682.43 points during the intra-day trade.

In contrast, the BSE market breadth was skewed in favour of the bulls — with 827 advances and 650 declines.

Both the key Indian indices had ended on a lower note during the previous trade session on Thursday, on the back of profit booking, global event risks and the logjam in parliament.

The barometer index had declined by 205.37 points or 0.74 per cent to 27,710.52 points, while the NSE Nifty edged lower by 55.75 points or 0.65 per cent to 8,510.10 points.

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